Middle East Attacks Resume and Oil Prices Climb
The attacks in the Middle East have resumed amid escalating tensions, leading to a significant rise in oil prices. U.S. and Saudi forces launched strikes against Iran-backed militias in Iraq in response to repeated attacks on Saudi oil facilities. According to the Saudi Ministry of Defense, these strikes targeted terrorists loyal to Iran who were attacking U.S. forces and infrastructure. The escalation of hostilities caused oil prices to rise, with the price of West Texas Intermediate crude reaching around $83 per barrel and Brent crude reaching $88.04 per barrel, following Iran's targeting of three oil tankers in the Strait of Hormuz, as well as Houthis attacking a Saudi tanker in the Red Sea. Additionally, U.S. President Donald Trump met with Israeli Prime Minister Benjamin Netanyahu to discuss the Iranian nuclear threat, despite Israel not participating directly in the recent operations.
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